More than $45 million is anticipated.
The event, set for Sunday, January 29, is expected to generate more than $45 million for the local economy this year in the form of hotel bookings, restaurant spending, transportation, shopping and entertainment.
That milestone would exceed the $41.4 million that the event generated in 2011 according to a report prepared by the Sport Industry Research Center at Temple University. That total was 24% higher than in 2010, or an additional $8.04 million dollars in economic activity.
Event organizers also estimate that the 2012 economic impact will mean that the event is approaching a cumulative $200 million in economic impact as it celebrates its 10th edition, making it one of the top beneficiaries of the local community over the past decade.
“The ING Miami Marathon and Half Marathon are among our most popular signature events,” says William D. Talbert III, CDME, President and CEO of the Greater Miami Convention & Visitors Bureau. “Over the past ten years, we have experienced the tremendous growth of this event with its thousands of participants from around the world enjoying our community and pumping money into our local economy. We’re very proud and pleased to welcome the ING Miami Marathon and Half Marathon each year and look forward to the next ten years of its continued growth and success.”
Specific economic benefits of hosting the 2011 ING Miami Marathon and Half Marathon for Miami-Dade County were:
- $24,853,030 of new money directly introduced into the county
- $7,164,550 of subsequent inter-industry spending within the county
- $9,391,201 of subsequent household spending within the county
- $15,173,318 increase in household incomes for county residents
- 431.8 new jobs created within the county.
The 2011 event had 21,147 registered runners from 79 countries and all 50 states. The report showed that 34,442 hotel room nights were generated by the race. Among non-local participants, the domestic market increased by 37% to 10,589 and the international market increased 35% to 3,210. International participants spend more in every spending category of lodging, food and beverage, transportation, retail shopping, tourist attractions and entertainment.
“The Miami Marathon has definitely earned its place as one of the top running events in the U.S. and now has become an internationally renowned event as evidenced by the increase in foreign registrations,” said Dave Scott, General Manager for US Road Sports & Entertainment of Florida and Race Director for the ING Miami Marathon and Half-Marathon . “The increase in registrations from Latin America and the Caribbean is coupled with that from Europe. Our foreign participants are known for staying longer, which increases our hotel occupancies and related travel revenue, and they also embrace the great shopping and all that South Florida offers.”
The ING Miami Marathon and Half Marathon is South Florida’s largest running event. Visit www.INGmiamimarathon.com for more information.